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Regime: Mixed risk-on, as an interim US-Iran peace agreement to reopen the Strait of Hormuz drives a historic 4.48% plunge in crude oil, offsetting hawkish post-FOMC anxieties and lifting global equities. Today’s market themes: Theme 1: Geopolitical de-escalation in the Middle East unlocking massive supply and triggering a crude market capitulation.…
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Where we are: The Dollar Index (DXY) is holding firm at 100.6 ahead of the New York open, consolidating near its highest levels since May 2025. This extended run follows a wave of hawkish Fed repricing, though US Treasuries are staging a mild overnight rebound with the 2-year yield trading at…
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Where we are: S&P 500 futures are clawing back yesterday’s losses, trading up 0.7% as the market looks to erase the bulk of the post-FOMC sell-off. Overnight trade established a firm base above the 5,400 pivot, successfully absorbing the late-session cash dump that saw the Dow swing 500 points lower. With…
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Where we are: Gold has reclaimed the $4,300 handle, currently trading at $4,308/oz as the London session gathers pace. This marks a solid recovery from yesterday’s 2% drop, which saw bullion briefly capitulate to $4,275 following a hawkish rhetorical shift from Fed Chair Kevin Warsh. The overnight range has been carved…
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Where we are: EUR/USD is trading heavy at 1.1480 ahead of the New York open, pinned below the key 1.1500 psychological level after probing an overnight low of 1.1465. This marks a clear breakdown from yesterday’s New York close near 1.1512, with the pair now targeting its late-March low near 1.1440.…
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Where we are: Nasdaq 100 futures are trading at 19,840, consolidating yesterday’s explosive 2% cash rally that carried the index back toward its lifetime highs. Intraday price action has established a tight overnight range between 19,780 and 19,860, with European market players refusing to give back any of yesterday’s gains. This…
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Where we are: Sterling has slumped to intraday lows near 1.3205, marking its weakest level since April 3 as traders react to the midday monetary policy decision. The overnight range was tight around 1.3280, but the break below 1.3240 post-decision has opened the path toward the key 1.3200 psychological floor. This…
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Where we are: USD/JPY is trading heavy at 161.10 as the London morning progresses, printing fresh multi-year highs and hovering at its weakest level since July 2024. The pair pushed through overnight resistance at 160.80 during the Tokyo session, driven by persistent spot buying that ignored initial verbal warnings from Japanese…
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Regime: Risk-on, driven by the historic US-Iran peace deal reopening the Strait of Hormuz, which has triggered a massive global equity relief rally and a collapse in crude prices, despite the VIX lifting to 18.44 and the US 10-year yield holding at 4.43%. Today’s market themes: Theme 1: Structural collapse in…
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Where we are: The Dow Jones Industrial Average is trading up approximately 300 points in early European trade, clawing back the lion’s share of yesterday’s 500-point plunge from intraday record highs. The turnaround is led by high-beta tech components, with Intel surging over 10% in pre-market trading on headlines of an…
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Where we are: USD/CAD is grinding near the 1.4100 level ahead of the New York open, consolidative after yesterday’s push toward the 1.4120 resistance zone. The overnight range has been contained within a tight 1.4085 to 1.4115 band, keeping the pair within striking distance of its seven-month highs. We are holding…
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Where we are: The Dollar Index is holding near its fresh multi-month high of 100.60, consolidating a two-day rally that has pushed the currency to its highest level since May 2025. This strength keeps the Greenback firmly bid as the European cash session progresses, with the US 10-year yield resting at…
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Where we are: Bitcoin is grinding sideways at $67,240 ahead of the New York open, consolidating within a tight overnight range of $66,800 to $67,600. We are currently sitting just below the prior New York close, unable to reclaim the pivotal $68,000 handle as spot demand remains muted during the European…
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Where we are: The Footsie is under intense pressure today, shedding over 1.1% to trade near the 8,150 level as the European cash session exposes deep structural vulnerabilities. This intraday flush marks a clean break below the 50-day moving average, extending the selloff from the overnight high of 8,260 and erasing…
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Where we are: S&P 500 futures are pointing to a 0.7% opening gain, reclaiming the 5,420 level as pre-market trading attempts to erase yesterday’s post-FOMC decline. This rebound follows a highly volatile Wednesday session where the index suffered a sharp, Fed-led sell-off after initially printing fresh intraday highs. We see ES…
